BenBen

BenBen is a Ghanaian blockchain and financial technology firm that specializes in building digital land-based financial transaction environments for public and private sector institutions in emerging market economies

Stage 4: Transition to Scale

As of 2018, BenBen has achieved the following.Signed Letter of Intent with the Ghanaian Lands CommissionCompleted Proof of Concept with Barclays Bank GhanaAppointed Technical Members of Ghana's National Property Reforms Working GroupCompleted Pre-Pilots with 2 Leading Ghanaian Financial InstitutionsOnboardedup to 2000 land parcel records onto our registry

BenBen has currently successfully proven its value proposition through its recent proof of concepts and is currently in its commercialization stage.

Problem

Land is the predominant asset class in Sub-Saharan Africa .On average, up to 80%
of land transactions occur off the formal land market in Sub-Saharan Africa. As
a result land based financial transactions experience high risk premiums due to
insufficient land & property market data.
In Ghana alone, up to 50% of civil court cases are land related, With these
figure remaining unchanged, African land markets continue to represent risky
territory for both citizens, and prospective investors.

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Solution

BenBen facilitates land based financial transactions between land/property market actors in emerging market economies. By processing private sector land transactions, BenBen is able de-risk land/property based financial transactions by providing access, to trusted, real-time market data, and analytics. Our present use case involves facilitating digital access to end user construction and mortgage loan financing from bank and non-bank financial institutions in Ghana.

Target Beneficiaries

Mission and Vision

BenBen’s aim is to digitalize Africa’s property market ecosystem and alleviate the bottlenecks and risks around land-based financial transactions in Africa. It is our vision to be recognized as the premier Pan-African solution for building digitized property markets and serve as the basis for securing land-based investment, growth and development on the African continent.

Innovation Description

BenBen facilitates land based financial transactions between land/property market actors in emerging market economies. By processing private sector land transactions, BenBen is able de-risk land/property based financial transactions by providing access, to trusted, real-time market data, and analytics. Our present use case involves facilitating digital access to end user construction and mortgage loan financing from bank and non-bank financial institutions in Ghana.

Competitive Advantage

Unlike many competitors in our space, BenBen builds upon existing land administration infrastructure by integrating with both public and private sector actors in the land market (land registries, mortgage bank institutions etc.). BenBen’s proprietary algorithms and user base allows it to gather, and reconcile existing data asymmetries between Government held and private sector held land data. This allows us to maintain a daughter land registry that aggregates land data from both extremes of the market into an all-in-one digital land administration layer.

Planned Goals and Milestones

BenBen is currently a raising a seed round to go into team expansion, commercialization and scaling with Government.